Euro Area
Gross Domestic Product
Gross domestic product, chained 2010 prices, annual % change, SA
Illustrates annual growth rates in real gross domestic product for the euro area as a whole and for four of its largest economies: Germany, France, Italy, and Spain. By plotting annual percent changes in inflation-adjusted output, the chart highlights how overall activity has evolved across these key economies and allows comparison of cyclical performance and relative resilience over time.
Euro Area
Unemployment Rate
Euro Area Unemployment Rate, All Persons, %, SA, Updates Monthly
The Unemployment Rate measures the percentage of the labor force currently not working but actively seeking employment. Markets monitor the unemployment rate to assess the cyclical health of the economy and the likelihood that wage demands may increase inflationary pressures.
Euro Area
Consumer Price Index
Harmonised Index of Consumer Prices, All Items, Core (All Items excluding energy, food, alcohol and tobacco), annual change, %, SA
The Harmonised Index of Consumer Prices is a measure of the change over time in the average prices paid by consumers for a market basket of consumer goods and services. It is calculated using the same methodology across members of the European Union. As the most widely used measure of inflation, changes in the index are closely followed by policymakers, financial markets, businesses, and consumers. Eurostat reports both an ‘All Items’ number that includes all categories in the calculation basket, and a ‘Core’ number that strips out highly volatile energy, food, alcohol, and tobacco prices.
Euro Area
Trade Balance
Goods trade balance, billions EUR, seasonally and working day adjusted
Measures the difference in value between imported and exported goods over the reported period. A positive number indicates that more goods were exported than imported – generating a trade surplus – and a negative number indicates a deficit. Trade imbalances may reflect fleeting differences in growth rates or more permanent factors in the composition of growth or the endowment and price of natural resources.
Euro Area
Key Policy Rates
Main Refinancing Operations, Marginal Lending Facility, Deposit Facility Rates
The European Central Bank targets three rates to influence monetary variables in the economy: the Main Refinancing Operations rate which helps determine the cost of liquidity in the banking system, the Deposit Facility rate, at which banks make overnight deposits within the Eurosystem, and the Marginal Lending Facility rate, which determines the cost of overnight credit to banks in the Eurosystem. The Bank reviews its policy rates every six weeks.
Euro Area
Money Supply Growth
M3 Money Supply, adjusted loans to households, adjusted loans to non-financial corporations, 12-month % change, NSA
M3 Money Supply is a measure of currency that includes cash, checking deposits, non-cash assets that can easily be converted into cash, repurchase agreements, money market fund shares, and debt securities with a maturity of up to two years. The annual growth rate of adjusted loans to the private sector helps quantify spending and investment levels, providing insight into the health of the underlying economy. These data series are used to assess monetary developments and the effects of monetary policy, as well as to monitor financial stability.
Euro Area
Central Bank Assets
European Central Bank total assets, trillions EUR
The European Central Bank balance sheet is a consolidated financial statement that shows the assets and liabilities of the Eurosystem national central banks and the European Central Bank itself. The system’s assets consist primarily of government bonds issued by Euro Area member states, corporate debt, and securitized mortgage debt. Its liabilities are mostly currency in circulation, commercial bank reserves, and collateralized reverse repurchase agreements. The balance sheet is used to influence interest rates – when officials want to stimulate the economy, it expands, and when they wish to tighten financial conditions, it shrinks.
Euro Area
Debt Ratios
Credit to general government, non-financial corporate, and household sectors, % of gross domestic product at market value
Aggregate debt ratios measure the total borrowing of the general government, non-financial corporate, and household sectors, expressed as a share of gross domestic product. Total debt is followed by investors as a gauge of the vulnerability of an economy to financial shocks. An overly fast pace of debt growth is also frequently associated with a buildup of unproductive investment and excessively high asset valuations.
Euro Area
Net International Investment Position
Net International Investment Position, billions USD
The net international investment position is the difference between the external financial assets and liabilities of a nation. A nation with a positive position is a creditor nation and is generally considered a safe haven in financial markets. A nation with a negative position is a debtor nation, with deeper balance of payments vulnerabilities.
Euro Area
Currency Reserves
Official reserve assets, foreign currency reserves (in convertible foreign currencies), billions USD
Currency reserves are external holdings that are freely usable for settlement of international transactions, and are readily available to and controlled by monetary authorities for meeting balance of payments financing needs, for intervention in currency markets to affect exchange rates, and for other related purposes. Developed markets with widely used, freely tradeable international currencies typically provide reserve assets rather than engaging in reserve accumulation.
Latest Analysis
Canadian dollar inches higher after jobs number beats expectations
10 July, 2026
The Canadian economy again generated more jobs than anticipated last month, further lowering the likelihood of an economic downturn and allowing policymakers at the Bank of Canada to remain squarely focused...
Bought and paid for?
09 July, 2026
A few years ago three behavioural-finance researchers put a deceptively simple question* to more than 26,000 people—academic economists, ordinary households, retail investors, financial advisers and professional...
Market momentum slows as clashes between the US and Iran continue
09 July, 2026
Good morning. Oil prices and currency markets are stabilising after yet another escalation in the conflict between the United States and Iran left the status quo* in the Strait of Hormuz largely intact....
Breakdown in US-Iran ceasefire triggers whiplash across currency markets
08 July, 2026
Good morning. The dollar is advancing and oil prices are climbing after a fragile ceasefire between the US and Iran collapsed, endangering a nascent recovery in global energy supplies. A series of Iranian...
Markets steady as data cadence slows and underlying trends stay in place
07 July, 2026
Good morning. Foreign exchange markets are enjoying a quiet, range-bound session, with most currencies little changed against the dollar amid a lack of first-tier economic data and a paucity of geopolitical...
Holding steady
06 July, 2026
• US markets. US stocks rose with the tech sector leading the way. USD Index treads water. The AUD ticked up thanks in part to strength on the crosses.• Data flow. Limited data releases in Australia &...
Dollar shrugs off soft jobs data ahead of Fed minutes
06 July, 2026
Good morning. The dollar is holding firm even after Thursday’s disappointing non-farm payrolls report triggered a pullback in Federal Reserve tightening expectations. American employers added just...
US jobs data underwhelms
02 July, 2026
• US jobs. Non-farm payrolls weaker than expected. Some noise in the monthly report. US Fed rate hike pricing pushed back. USD softer. AUD a bit firmer.• JPY focus. Reports out of Japan indicate officials...
US job creation slows, clobbering Fed tightening bets
02 July, 2026
The US job creation engine slowed in June, weighing on expectations for a renewed tightening cycle from the Federal Reserve in the second half of this year. According to the Bureau of Labor Statistics,...
US jobs report in focus
01 July, 2026
• Risk wobbles. US/European equities slipped back overnight. USD firmer. NZD treading water while AUD underperforms. AUD still tracking sub ~$0.69.• Data trends. On net, more solid US data released the...